EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

12. EARNINGS PER SHARE

The Company’s net income (loss) and weighted average shares outstanding for the years ended December 31, 2023, 2022, and 2021 consist of the following:


	Year Ended December 31,
($ in thousands except share amounts)		2023		2022		2021

Basic and Diluted Net income (loss) available for Class A common shareholders		$	101,125	$	142,217	$	56,522

Weighted average shares outstanding:
Basic		124,667,877		124,301,421		123,763,843
Diluted		124,882,398		125,823,671		124,563,051

The calculation of basic and diluted net income (loss) per share amounts for the years ended December 31, 2023, 2022, and 2021 consist of the following:


	Year Ended December 31,
(In thousands except share and per share amounts) (1)		2023		2022		2021
Basic Net Income (Loss) Per Share of Class A Common Stock
Numerator:
Net income (loss) attributable to Class A common shareholders		$	101,125	$	142,217	$	56,522
Denominator:
Weighted average number of shares of Class A common stock outstanding		124,667,877		124,301,421		123,763,843
Basic net income (loss) per share of Class A common stock		$	0.81	$	1.14	$	0.46

Diluted Net Income (Loss) Per Share of Class A Common Stock
Numerator:
Net income (loss) attributable to Class A common shareholders		$	101,125	$	142,217	$	56,522



Diluted net income (loss) attributable to Class A common shareholders		101,125		142,217		56,522
Denominator:
Basic weighted average number of shares of Class A common stock outstanding		124,667,877		124,301,421		123,763,843
Add - dilutive effect of:

Incremental shares of unvested Class A restricted stock(1)		214,521		1,522,250		799,208

Diluted weighted average number of shares of Class A common stock outstanding (2)		124,882,398		125,823,671		124,563,051
Diluted net income (loss) per share of Class A common stock		$	0.81	$	1.13	$	0.45

(1)The Company applies the treasury stock method.

(2)There were 367,001 anti-dilutive shares for the years ended December 31, 2023.